SG Digest: Quest puts $404K more in Eatsy; Kolao to invest $10m in Myanmar plant

Eatsy Technologies, that backs ordering-ahead application Eatsy, has raised a $404,000 as a follow-on investment led by Quest Ventures while Kolao Holdings (HM) Singapore has proposed to make a $9.8 million investment in Myanmar to manufacture automobiles.

Quest Ventures makes a follow-on $404K investment in Eatsy Technologies

Eatsy Technologies, a Singapore-based food & beverages technology startup, has raised S$550,000 ($404,000) led by Quest Ventures, that invests in technology startups.

The round also saw participation from Wee Teng Wen, founder of The Lo & Behold Group, and RedMart co-founders Roger Egan III, Vikram Rupani and Rajesh Lingappa.

The dining app received its initial round of funding of S$30,000 from Quest Ventures and Enterprise Singapore. The latest financing will be used for the development of its existing application and to improve services related to taking orders and payments.

Founded in 2017, the team is led by Shaun Heng, who was previously with RedMart, Singapore’s online supermarket.

Other restaurant reservation platforms in Singapore include The Chope Group, which raised $13 million led by Square Peg Capital, C31 Ventures and Moelis Australia; Eatigo and HungryGoWhere.

Kolao Holdings proposes $9.8 m investment in automobile facility

Kolao Holdings (HM) Singapore Pte Ltd, a subsidiary of LVMC Holdings that manufactures and sells automobile and motorcycles, has proposed to invest $9.8 million to produce motor vehicles and motorcycles in Myanmar, according to the Directorate of Investment and Company Administration.

Established in 2009, LVMC Holdings, formerly Kolao Holdings, has 10 subsidiaries present in Singapore, Laos, Myanmar, Cambodia, Korea and Hong Kong.

LVMC Holdings manufactures and sells completely knocked down automobile products imported from Korea and used cars under the name of KOLAO. In Myanmar, the company was set up in 2013 under the name of Kolao Holdings Myanmar Co Ltd and Fortune Kolao International Motors Co Ltd.

Also Read:

Singapore: Online restaurant booking service Chope raises $13m

Singapore’s Chope acquires MakanLuar, enters Indonesian market

Myanmar Digest: BASF opens first chemical plant; Precision Auto to invest $1.35m

 

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.